Korea-Africa Summit: A new dynamic to meet common challenges
For the first time, the Republic of Korea (South Korea) is organizing a summit bringing together African Heads of State and government with its African partners. Centered around the theme “The Future We Build Together: Shared Growth, Sustainability, and Solidarity”, this meeting signals Seoul’s intent to reinvigorate its relations with the African continent.
Indeed, on June 4 and 5, South Korean President Yoon Suk-yeol will host numerous African leaders on his soil for this inaugural summit, an initiative following the first South Korea-Pacific Islands summit held in the Korean capital in May 2023.
Today, as challenges grow, Africa is increasingly courted and subjected to renewed competition, leaving little room for new entrants. By organizing this summit, South Korea aims to double down on its commitments to the African continent and ensure they are long-lasting.
As such, 47 African countries have announced their attendance, including about twenty at the level of Heads of State or government. Since taking office in 2022, current South Korean President Yoon Suk-yeol has harbored the ambition of organizing such a summit.
The summit will revolve around seven themes: trade and investment; global challenges; sustainable energy and infrastructure; human development; science and technology; digital transformation, human exchanges; and peace and security.
Cooperation between Korea and Africa has intensified in various fields, such as trade, investment, infrastructure, minerals and energy, defense, e-government, and information and digital technologies.
As a reminder, in 2022, the cumulative amount of South Korean investments in Africa amounted to $9.2 billion, while bilateral trade reached $20.45 billion. This amount is quite close to the $24 billion in trade between Japan and Africa.
